Shriram secures Rs.1,000 cr for realty projects

Shriram Properties, a Bengaluru-based realty arm of diversified company Shriram Group, in a recent move, has secured Rs.1,000 crore to be invested in affordable, mid-housing and distressed real estate projects, MD, M Murali said that the company has secured funds from ASK Group. In its scheme of things, the company will tap projects in cities where it already has presence in residential projects in locations like Bengaluru, Chennai, Coimbatore, Vizag, and Kolkata. ASK Group is already an investor in various projects of Shriram Properties in the residential real estate space wherein Shriram Properties has already delivered 18 million sqft projects and currently has about 20 million sqft under various stages of construction. As a matter fact, it is undertaking about 70 million sqft of developmental projects across the country, he added.